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Business

PPD CEO resigns after three months on job; Walks away with $3 million golden parachute

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Raymond Hill resigned effective yesterday. He came to the wilmington-based pharmaceutical research firm in september. Full story...
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Lowe's stands by decision to pull ads

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Lowe's is planning to stick by its decision to yank its ads from a reality TV show about American Muslims despite the growing opposition the home improvement chain is facing over the move. Full story...
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PPD sale finalized

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It's official. PPD has new owners. Pharmaceutical Product Development, Inc. today announced the completion of its acquisition by affiliates of The Carlyle Group and affiliates of Hellman & Friedman. The all-cash deal is worth about $3.9 billion. Full story...
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PPD shareholders approve sale

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PPD shareholders have approved the Wilmington-based company's sale to The Carlyle Group and affiliates of Hellman & Friedman. The vote came at a special meeting of shareholders today. Full story...
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NC approves deal to bring Chiquita from Ohio

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A North Carolina economic development panel has approved a $22 million incentives deal to bring the global headquarters of banana giant Chiquita Brands International from Cincinnati to Charlotte. Full story...
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Six-month moratorium approved for Wilmington's sign ordinance

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Among some big issues on tonight's Wilmington City Council agenda was the city's sign ordinance for businesses. Full story...
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Leland leaders look at changing town's sign rules

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video The Town of Leland is making changes to sign laws and the permitting process for signs. The Leland Sign Committee has been working over the last several years to try and simplify advertising for business owners. Today was another step in the process. Full story...
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Wilmington company turning yard trash into treasure

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video With the economy the way it's been, it's tough to find feel good stories in the business community. ABC World News has been featuring businesses that are putting people to work in its "Made in America" series. We found a local business that is doing well and selling product that's "Made in the Cape Fear" just off Market Street. Full story...
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New Hanover Commission tables shopping center purchase

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Commissioners voted 3-2 to table a vote on purchasing the property that houses Break Time and Ten Pin Alley in Wilmington. The property is a part of the same shopping center as the county's government complex. Full story...
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ONLY ON 3: Local leaders look to state to expand rail service

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video Everyone is looking for more jobs and business to get our economy back on track. Transportation planners say one solution could be restoring a 27-mile stretch of railroad between Castle Hayne and Wallace. Full story...
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Biotechnology company to create 52 jobs in Brunswick County

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CMS Food Solutions, Inc., owner of an innovative proprietary food safety technology, will open a manufacturing facility in Leland according to the governor's office. The project is expected to create 52 jobs and the company expects to invest $4.4 million in the plant. Full story...
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Wilmington sign ordinance a citywide issue

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video The downtown sign showdown continues. Last night Wilmington City Council decided to have staff spend more time on controversial sign regulations that have many downtown businesses in an uproar. But others in the city are finding out that the rule also affects them. Full story...
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PPD sale clears first hurdle

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PPD is a step closer to new ownership after a 30-day "go-shop" period ended last night. The period was a chance for PPD to see if it could find a better offer than the merger agreement it made on October 2 with The Carlyle Group and Hellman & Friedman LLC, according to a PPD news release. Full story...
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Treasury Secretary visits Corning; pushes American Jobs Act

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video Putting America back to work. That's what President Obama hopes to accomplish with his American Jobs Act. Treasury Secretary Tim Geithner is a staunch supporter of that act. He was in Wilmington today to discuss the proposal and to tour a manufacturing company that could play a key role in improving our information infrastructure. Full story...
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Study: NC business has more friends at Legislature

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A nonpartisan group focused upon improving North Carolina's business climate says the General Assembly became more business friendly this year as the Republicans took control and pushed through several changes. Full story...
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